6 replies to this topic

[isabel1]

I'm currently looking at buying a diamond ring in a Ritani setting made of palladium.

The diamond has the following especifications:
round cut 7.40 - 7.34 x 4.52 mm.
Depth 61.3%
Width 59%
Crown 15%
Pavillion 43%
Girdle thickness thin, faceted
polish very good
symmetry excellent
culet none
clarity SI1
color E
Flourescence none

It is an EGL Israel (which I'm aware of the deficiencies), but the price seems to be right at $7,000 for both the ring and the diamond.
She needs to sell this ring due to financial difficulties and I'm interested in a ring in this carat weight.

The link to the setting is here: http://www.ritani.co...ings/item/527//
Please, please give me some advice. I will be very grateful.
Thanks,
Isabel

[davidelevi]

It doesn't sound like a bad price. The setting is somewhere around $6000 (retail), and prices for comparable stones (1.5x E/SI1 EGL) go from about $6500 to $12000 - so even assuming bottom line prices, you are in the money as long as the ring is in good conditions.

However, you have two significant questions to ask yourself:

1. Do I trust this person to describe the diamond and the setting fairly (i.e. am I sure that I am getting a Ritani setting and a diamond, not a CZ and a knock-off copy)?

2. Do I like the setting and the stone enough to spend my money on it? Is the stone eye-clean to my satisfaction? Is it bright, sparkling and fiery in a way that I love?

If the answer to both questions is yes (or at least the seller agrees to have an appraiser to help you answer question #1), then you are OK. If the answer to either question is no, keep looking: a great price on the wrong thing is no bargain.

[isabel1]

Thank so, so much for replying to my post.
I'm planning on taking the ring to my jeweler so he can verify that the diamond in the ring is the same as the certificate, there are no visible chips in the diamond, it is eye clean, etc.
Does anyone else has some additional advice or comments as if this is a good deal or not?
I need to get back to her today with my decision.
So please, help me with this. This whole thing is a bit scary to me since I do not do this every day and do not want to make a big mistake.
Many thanks in advance for you replies to my post. Isabel

[denverappraiser]

There are 3 tricky parts. EGL, condition, and the seller. Presumably this is a private sale with no recourse and no warranty of any kind so it does benefit you to do your due diligence up front. Use a professional appraiser if you can find one, not just some jeweler (there ARE jewelers who are good at this but it's far fewer than you might expect and nearly all jewelers claim to be skilled apprasiers)

[isabel1]

I'm very grateful for your insight and advice on this purchase. The ring looks beautiful and I will make sure to follow the advice of davidelevi and deverappraiser. This is my last upgrade to my .5 carat ring and I'm happy that it seems that I found a good deal. Many thanks, Isabel

[isabel1]

Update:
Went to see a GIA/AGS certified jeweler/appraisal and he estimated that the diamond was an F in color and I1 in clarity. The setting was in terrible shape with 4 small stones missing. He estimated the repair job for the setting to be around $700.00. He estimated that the total price of the ring(with the diamond) in that condition was between $5,100 to $6,300. Way less than what she was asking for and way less of what she paid for the ring several years ago ($13,500).
All the advice given on this forum was right on target and I want to give you a BIG thanks for helping me prevent making a big mistake.
You are the best and I will be eternally grateful.
(Ah...and the setting was not palladium, was 18K white gold that needed to be re-coated badly)
Isabel

[barry]

Good Luck!